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    213 Lazy K Drive Elkview, WV 25071

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    Claim this Listing
    For Sale
    $3,500,000

    MULTI_FAMILY - Elkview, WV

    Lot size:
    66.25 Acres
    Added:
    May 14, 2024
    Days on Market:
    723
    Last Refresh:
    May 6 at 9:06 am

    Property Features for 213 Lazy K Drive

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Rooms
    Basement
    Parking features
    Off Street
    Standard status
    Active
    APN
    15-0023-0094-0000-0000
    Lot size
    66.25 Acres

    Taxes and HOA fees

    Tax Description
    REAR 65.77 AC M/L SURF BUFF LICK BR CC SPLIT FR 65.77 AC M/L SURF BUFF LICK BR CC SPLIT
    Tax Annual Amount
    3841

    Utilities

    Sewer type
    Septic Tank
    Heating system
    Electric (Heating), Forced Air
    Cooling system
    Central Air
    Water source
    Well, Public
    Water front features
    Creek, Pond, River Access
    Water front
    1

    Building Details

    Floors in Building
    1
    Flooring type
    Hardwood
    Building materials
    Drywall, WoodSiding
    Roof type
    Metal

    We can help!

    Listing Contact
    Christina DiFilippo
    Christina DiFilippo

    Listing agent Christina DiFilippo License #0027337

    Listing office Better Homes and Gardens Real Estate Central 928 Cross Lanes Dr., Cross Lanes, WV

    Listing date May 14, 2024

    MLS# 272121

    Copyright © 2026 Kanawha Valley Board of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Picturesque RV Park Near Charleston

    Lazy K Campground, situated along the Elk River, presents an opportunity to own nearly 70 acres. Located minutes from Charleston, this RV park features 40 sites equipped with hookups and the potential for 30 additional sites. The property includes 4 cabins with wi-fi, and a main home or lodge for guests. A stocked pond with a paddleboat and kayaks is also located on the premises. The campground's proximity to the Sanderson trails attracts off-road enthusiasts. There are multiple spots ideal for creating a lodge or a wedding venue. The property is suitable for both a serene retreat and a business venture. Owner financing with acceptable down payment is available with owner transition consulting included.
    Location Intelligence

    Current Use by Public Records

    Campgrounds

    Map

    City
    Elkview
    County
    Kanawha
    State
    West Virginia
    Longitude
    -81.4683
    Latitude
    38.4976

    Nearby Similar for Sale

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      Commercial property with income potential near Charleston, West Virginia.
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    • $195,000
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      Furnished Rancher on Wooded Acreage

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    FAQs

    What type of property is this?
    Campground - Serene RV park with expansion potential near Charleston, West Virginia.
    Where is this campground located?
    The property is located at 213 Lazy K Drive Elkview, WV.
    What is the asking price?
    The asking price for this property is $3,500,000.
    What are key features of this property?
    This property features: Prime location on nearly 70 acres along the Elk River, minutes from Charleston.; Established RV park with 40 sites (with hookups) and expansion potential for 30 more.; Includes 4 cabins with wi‑fi and a main home/lodge for guests.
    (304) 545-6364
    We can help!
    Listing Contact
    Christina DiFilippo
    Christina DiFilippo
    Real Estate License ID: 0027337
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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